This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Gold Prices Could Hit $1,800, Poll Says

Stocks in this article: GG ABX

NEW YORK ( TheStreet ) -- Gold prices will keep rallying to new records in 2011, according to a recent poll of readers of TheStreet.

Of the almost 6,000 people who have taken our poll (the poll is still open, please go vote), roughly 47% believe gold prices will finish 2011 between $1,500 and $1,800 an ounce. With 23% of the vote and in second place was the the $1,200 and $1,500 price range. The third place price range was comprised of the truly bullish, with the $1,800 to $2,000 price range drawing 17% of the vote, or more than 1,000 people. Only 7% of voters felt gold would come in between $1,000 and $1,200, while a scant 5.2% could envision gold prices dipping below $1,000.

How high gold prices will go has been a hotly contested debate especially as the metal has been unable to sustain highs. Gold prices are relatively flat since the start of the year, but are up 6% since the beginning of February and have also reached a record settle of $1,445.70 an ounce.

Gold prices were hit hard in the beginning of the year as traders sold positions to rebalance their portfolios, but regained momentum as political unrest in the Middle East-North Africa region ignited safe haven buying.

Recent high inflation readings have also prompted traders to buyback old positions and have brought a wave of new investors into the market.

Price forecasts from CEOs to experts run the gamut.

Goldman Sachs (GS) said in a research report Thursday that it expects gold to rally "towards our 3-month price target of $1,480" an ounce. Goldman is recommending investors get long on gold by buying the December 2011 futures contract currently trading at $1,426.10 an ounce.

The caveat? This golden situation won't last. Goldman expects U.S. rates to recover as the second round of quantitative easing ends in June and as the U.S. economy continues to strengthen. As a result, Goldman believes gold prices will peak in 2012.

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs